The S&P 500 lost 3.6% (price only) in January. Based on the valuation metrics presented below, the S&P 500 has 10% downside to its historical average. The S&P Industrials (which excludes Utilities and Financials) now has 23% downside to reach mean valuation.
Feb
06
2014
Estimating The Downside - February 2014
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